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Champion Electric Metals Identifies Critical Metal Ultramafic-Hosted Nickel Sulphide Targets on Lithium Project in James Bay, Quebec
Toronto, Ontario--(Newsfile Corp. - July 26, 2023) - Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: GLDRF) (FSE: 1QB0) ("Champion Electric" or the "Company")
About this update from Champion Electric Metals Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - July 26, 2023) - Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: GLDRF) (FSE: 1QB0) (\"Champion Electric\" or the \"Company\") is pleased to announce the interpretation and modelling of the airborne Time-Domain Electromagnetic (EM) data collected at the beginning of the spring 2023 exploration program at the Champion Electric Lithium Project (the \"Project\") located in the pegmatite-rich Eeyou Istchee James Bay territory of Quebec. The EM interpretation identified three high-priority complementary critical metal EM bedrock conductors located within mapped ultramafic rocks of the Lac Guyer greenstone belt. \"The prospective and easily accessible EM conductors offer Champion several critical metal targets over approximately 5 km in a region renown for its nickel endowment. Our technical team will include new nickel sulphide targets into the planned drilling later this year,\" commented President and CEO Jonathan Buick. \"We continue to prioritize our lithium exploration efforts given that this area also features numerous historical mapped pegmatites yet to be evaluated. Despite the ongoing hiatus in field activities, we are pleased that we have been able to generate high-quality exploration targets!\" EM Interpretation Interpretation identified a string of three discrete mid to late-time conductive anomalies which are interpreted as moderately to steeply NNW dipping plate-like conductors extending 450m x 160m, 190m x 260m and 240m x 530m respectively (Figure 1). The interpreted dip is consistent with structural data available from nearby outcrops which is a strong argument that these conductors are of likely bedrock origin and parallel to stratigraphy. The interpreted conductors are believed to start at the base of the thin overburden (< 10m deep) and are deemed possibly indicative of sulphide mineralisation. The EM conductors are hosted within a mapped ultramafic unit adjacent to an iron formation prominent in both the airborne EM and magnetics datasets. Nearby historical rock samples (#2009050866, #2009050874 and #2009050868 in Quebec's Ministry of Natural Resources and Forests database) from the host ultramafic unit returned maximum geochemical values of 0.21% Ni, 0.46% Cr2O3 and 139 ppm Co (Figure 2). Two of these samples were historically mapped as komatiite in the government's datab...